Tevogen Bio Announces Full Year 2023 Financial Results and Upcoming Operational Objectives - Seite 2

“Patients who are immune compromised continue to need novel treatments for COVID-19. We have completed the design of a new clinical trial of TVGN 489 to address the unmet need of this population. The manufacturing facilities are expected to support our application for FDA approval and expedite the commencement of that trial” said Lori Grosso, Clinical Development Lead of Tevogen Bio.

Tevogen Bio is evaluating several funding options to support its ambitious growth plans over the next 12 months to initiate in-house manufacturing, clinical trials, and other operational expenses. “Tevogen finds itself in a unique position by achieving clinical success while retaining equity control by executive management. In addition, it’s atypical for a start up to have received such company-favorable financing terms as Tevogen has. We will explore funding options that are similarly favorable” said Tapan Shah, Head of Investor Relations and Corporate Development of Tevogen Bio.

For full year 2023, the operating expenses for Tevogen Bio Inc were $8.8 million. As previously announced, as of December 31, 2023, the conversion of promissory notes into common stock removed $94.9 million in pro forma balance sheet liabilities; the remaining pro forma total liabilities were $5.4 million.

Tevogen Bio SEC Filings

Form 8-K/A (Current Report filed April 29, 2024)

Form 10-K (Annual Report filed April 29, 2024)

About Tevogen Bio

Tevogen Bio is a clinical-stage specialty immunotherapy company harnessing one of nature’s most powerful immunological weapons, CD8+ cytotoxic T lymphocytes, to develop off-the-shelf, genetically unmodified precision T cell therapies for the treatment of infectious diseases, cancers, and neurological disorders, aiming to address the significant unmet needs of large patient populations. Tevogen Leadership believes that sustainability and commercial success in the current era of healthcare rely on ensuring patient accessibility through advanced science and innovative business models. Tevogen has reported positive safety data from its proof-of-concept clinical trial, and its key intellectual property assets are wholly owned by the company, not subject to any third-party licensing agreements. These assets include three granted patents and twelve pending patents, two of which are related to artificial intelligence.